Aircraft Engine Lease Finance (AELF) has completed a $55 million line of credit provided by Indiana-based Merchants Bank on June 19, 2025. The financing will be used to acquire commercial aircraft as the company expands its fleet.
“Merchants Bank has been a key partner in AELF's development, and we are very pleased to continue to expand that relationship as we grow the fleet and diversify our stable of high-quality airline partners,” said AELF board member Phil Scruggs.
“Our partnership with AELF has been incredibly valuable as we continue to support their vision and innovation in the industry,” said Merchants Bank market president Ariana Meiser. “We strive to work alongside organisations like AELF and look forward to being part of their continued growth for years to come.”
AELF has been a borrower from Merchants Bank since 2019, with this line of credit consolidating and expanding on the company's existing borrowings with the lender. The lessor is growing its fleet of mid-life commercial aircraft with the addition of several 737NGs and A330s in recent months. The company added that it has ongoing negotiations for additional acquisitions.